Warner Music Group‘s recorded music operation is changing.
The major music company has confirmed that its global CEO of Recorded Music, Max Lousada, will be leaving WMG.
Lousada will step down from Warner at the end of the firm’s fiscal year (September 30), after eight successful years in the role, and 20 years at WMG. Lousada will remain as an advisor to WMG through January 31, 2025.
Elsewhere in a global shake-up of Warner’s structure, Elliot Grainge, the founder of 10K Projects, is becoming CEO of Atlantic Music Group, home to Atlantic Records and 300 Elektra Entertainment. That change will take effect from October 1.
WMG acquired a 51% stake in 10K Projects last year in a $102 million deal. Subsequent to that acquisition, Grainge – son of Universal Music Group boss, Sir Lucian Grainge – joined WMG’s global leadership team.
Working alongside Grainge in the new Atlantic Music Group (AMG) setup at WMG will be Julie Greenwald, who is today named Chairman of AMG under the new structure.
Greenwald will report to Warner Music Group CEO, Robert Kyncl, in her new role.
Warner’s US recorded music operation will henceforth be organized into two label groups.
Atlantic Music Group, run by Elliot Grainge as CEO, will house Atlantic Records, 300 Elektra Entertainment, plus 10K Projects. AMG will continue to “benefit from the creative expertise of A&R legend Craig Kallman“, WMG said in a media release.
On the West Coast, Warner Records, which has enjoyed a surge of recent success under Tom Corson and Aaron Bay-Schuck, will now include oversight of Warner Music Nashville, along with Nonesuch and Reprise.
A major part of the new company restructure will see a “flatter structure” for Warner’s ex-US recorded music operation around the world, said WMG.
Under this new structure, WMG will neither have the roles of CEO, Recorded Music (Lousada’s current position) nor President, International, Recorded Music.
WMG’s Recorded Music regional and divisional leaders will now report directly to Robert Kyncl. Changes include:
- Europe, Middle East, Africa (EMEA) will be overseen by seasoned exec Simon Robson. The UK & Ireland group will now be part of European operations;
- Latin America (LATAM), including WM Latina, will continue to be run by Alejandro Duque, who has made a big impact on the region since joining WMG in 2021.
- Asia Pacific (APAC): a leader will be appointed to the newly created position overseeing the entire APAC region.
Meanwhile, the heads of WMG’s separate divisions covering distribution (via ADA), Global Catalog, Marketing, and WMX (including merchandising and Direct To Fan) will all report directly to Robert Kyncl from October 1.
Robert Kyncl said: “On behalf of everyone at WMG, I’d like to thank Max for his extraordinary achievements over the last twenty years. Max is a true artists’ champion, who created a culture that puts artistry first, growing our global reach and building a roster of incredible talent and an outstanding team. I’m grateful that he’ll be helping to ensure a smooth transition.”
Added Kyncl: “I’m very happy to promote Elliot to his new position, and delighted that Julie will be taking on her new role, both of them working with Craig, as we take this iconic label to even greater heights. Elliot has been a stellar addition to WMG’s leadership team, with a distinctive approach to artist development.
“We have an amazing bench of creative leaders, and I’m looking forward to working more closely with them, as we collaborate on the company’s next phase of creative excellence, commercial transformation, and growing revenues. At a time when global culture moves at the speed of light, we’re doubling down on great artists and diverse music scenes, empowering our talent and team to have maximum impact.”
Max Lousada said: “Over the past two decades, we created something special together at Warner: a music company built for artists, where original voices are championed, where their creativity is honored and protected, and where superstar careers are ignited.
“I’m proud to have grown a world-class team who share that vision and whose enterprise and energy have brought in new labels, rebuilt iconic brands, expanded our global network, and pioneered new fan experiences. The music business has always been about evolution, and the time has come for me to build something new. I’ll be helping the team through this transition, and I have no doubt they’ll continue to develop artists who move the world.”
Julie Greenwald said: “My whole career is about developing baby bands into career artists and empowering our amazing people to change culture in unexpected ways. It’s been twenty years since I walked through the door at Atlantic and began the work of rearchitecting this iconic label.
“I couldn’t have done it without the deep passion and dedication of my incredible team, and our unbelievable artists, who make music that inspires and moves people everywhere. Finally, I want to welcome Elliot; I’m looking forward to working with him as we continue to place our artists and their music at the heart of this company.”
Elliot Grainge said: “It will be a huge honor to join such a legendary label group, partner with its iconic artists, and build on the extraordinary achievements of Julie and Craig – they’re leading a second golden age at Atlantic Records.
“I’m excited to work with the talented team at Atlantic Music Group to take the artists and the brand into fresh territory, and continue to nurture 10K’s artists and its unique spirit. Together, we’ll pioneer powerful opportunities for the creative community and raise up a new generation of superstars. In the meantime, I’d like to thank Max for his faith in me and Robert for trusting me with this great responsibility.”
Today’s news comes six months after Warner Music Group announced that it would be cutting its global headcount by 600 employees, around 10% of its worldwide employee base, by the end of September 2024.
The majority of these layoffs, said Warner, would relate to the closure or sale of its “Owned & Operated” media properties.
These media platforms included HipHopDX and UPROXX, both of which were sold to a group led by UPROXX founder Jarret Myer in April.Music Business Worldwide